Stock Market & Financial Investment News

Enanta announces FDA approval of AbbVie's Technivie Enanta Pharmaceuticals (ENTA) announced that the FDA approved AbbVie’s (ABBV) Technivie -- ombitasvir, paritaprevir and ritonavir -- tablets in combination with ribavirin for the treatment of non-cirrhotic adults with genotype 4 chronic hepatitis C virus, or HCV, infection. Technivie is the first and only all-oral, interferon-free, direct-acting antiviral treatment approved in the U.S. for adult patients with GT4 chronic HCV infection. Paritaprevir is Enanta’s lead protease inhibitor identified within the ongoing Enanta-AbbVie collaboration and is one of the two direct-acting antivirals (2-DAA) in AbbVie’s Technivie.

FDA approves AbbVie hepatitis drug Technivie The FDA approved Technivie for use in combination with ribavirin for the treatment of hepatitis C virus, or HCV, genotype 4 infections in patients without scarring and poor liver function. Technivie in combination with ribavirin is the first drug that has demonstrated safety and efficacy to treat genotype 4 HCV infections without the need for co-administration of interferon, an FDA-approved drug also used to treat HCV infection. Technivie is marketed by AbbVie. Reference Link

AbbVie sees IMBRUVICA U.S. sales of about $1B for 2015AbbVie Chairman and CEO Richard Gonzalez said the company continues to expect IMBRUVICA to drive U.S. sales of approximately $1B for the full calendar year 2015. Since the company completed the Pharmacyclics transaction, it has seen "additional positive data" and progress on its regulatory objectives, including readouts from two Phase 3 studies, HELIOS and RESONATE-2, noted Gonzalez during the company's Q2 earnings conference call.

AbbVie reports Q2 Global Humira sales up 16.4% to $3.54BStrong U.S. HUMIRA growth continued, driven by double-digit growth across all three major market categories, rheumatology, dermatology and gastroenterology. Reported international HUMIRA sales growth in the quarter was reduced by nearly 18 percent due to unfavorable foreign exchange. First-half 2015 international HUMIRA sales grew nearly 9 percent on an operational basis, consistent with planning expectations and the full year forecast for international HUMIRA sales growth of 9 to 10 percent on an operational basis. As noted last quarter, the first-quarter international operational growth rate of nearly 15 percent was favorably impacted by the timing of shipments in select markets. Consequently, sales growth in the second quarter was negatively impacted by shipment timing.

AbbVie technical comments before earnings newsThe stock is trading close to its life high at $71.60 ahead of earnings news. On a 2-year chart basis recent high price and the near-matching high from December of last year indicates shares are at major resistance. If the news is a bearish surprise, these two peaks in price could be construed as potential double top. Next supports below $70 would be at $68.50, $66.52, and $64.81. If the news is a bullish surprise, the life high could easily be taken out. An extension of the current bullish price channel in time yields a potential target at $75. Without overhead resistance, that level could be exceeded depending on the nature of the news.